The overall rate of inflation, as measured by the Colombo Consumer Price Index (CCPI) on Year-on-Year basis, has increased to -1.7% in December 2024, compared to -2.1% in November 2024, according to the latest data released by the Department of Census and Statistics. The Y-on-Y inflation of Food Group increased to 0.8% in December 2024…
The Association of Chartered Certified Accountants (ACCA) and the Institute of Certified Management Accountants (CMA) of Sri Lanka recently renewed their Memorandum of Understanding (MOU). This renewed partnership marks a significant step in advancing the skills and capabilities of finance and management accounting professionals in Sri Lanka, supporting the nation’s evolving business environment and contributing…
China last week delivered ‘Tan Suo San Hao’ (Exploration No. 3) in Guangdong Province. It is China’s first comprehensive scientific research ship specially made for global deep sea exploration with manned deep diving capabilities. The 104 meter long ship has a displacement of around 10,000 tonnes & an endurance of 15,000 nautical miles. Manned by…
Boost to operations set to increase daily seat capacity by 30%, supporting Sri Lanka’s tourism growth plans Emirates, the world’s largest international airline, will operate an additional scheduled service between Colombo and Dubai, starting from 2 January 2025. The newly-introduced flight, to operate as EK654/655, increases the seat capacity on the route by 30 percent…
President Anura Kumara Disanayake has instructed officials to promptly implement the necessary plans to position Sri Lanka as an attractive destination for tourists. He further emphasized that the successful implementation of the “Clean Sri Lanka” initiative would strengthen efforts to promote the tourism industry. The President made these remarks during a meeting held at the…
As Hambantota International Port (HIP) gears up to enhance its container operations with the introduction of advanced crane technology in early February 2025, Wilson Qu, CEO of Hambantota International Port Group (HIPG), emphasized the port’s commitment to exploring untapped markets to expand its portfolio. This strategic initiative aims to significantly boost container volumes and solidify…
Sri Lanka is witnessing a significant shift towards sustainable finance with Colombo Stock Exchange (CSE) introducing the listing and trading of Green Bonds in 2023. DFCC Bank led the way among financial institutions to issue the first green bond in the country, aimed at funding renewable energy projects particularly in the solar energy sector. This…
Asia Capital PLC, along with its majority owner Dato Vijay Eswaran, has categorically denied recent claims circulating on social media that MAC Holdings has made a formal offer to acquire a majority stake in the company. In a statement issued, the company emphasized that no formal offer has been received, refuting what it called “unsubstantiated…
Sri Lanka took another significant step toward textile circularity with a four-day program under the GTEX Phase II initiative, organized by the International Trade Centre (ITC) and funded by the Swiss State Secretariat for Economic Affairs (SECO). The event, which combined a two-day training-of-trainers session with a workshop on Circular Economy Business Models for the…
This investment follows the strategic move by Ambeon Capital PLC and its subsidiaries, who recently acquired a 9.02% stake in DFCC Bank PLC Ambeon Holdings PLC, a diversified conglomerate with a strong presence across multiple sectors, continues to strengthen its position in Sri Lanka’s financial services industry through strategic investments. Recently, the company increased its…
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